Goldman Sachs Chief Economist: Trump Will Not Restart "Reciprocal Tariffs" on July 9

ChainCatcher news, Goldman Sachs chief economist Jan Hatzius predicts that Trump will not restart the "reciprocal tariffs" on July 9. Hatzius hinted at an event at the conservative think tank American Enterprise Institute that the White House is more likely to extend negotiation time with trade partners rather than strictly enforce the July 9 deadline.

Hatzius's team estimates that the overall tariff rate in the U.S. has increased by about 10 percentage points this year. "We expect an additional increase of 4 to 5 percentage points due to the 25% targeted tariffs on industries such as semiconductors, communication equipment, pharmaceuticals, and copper. This is a significant additional tax that we believe will still be implemented."